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Missing Payroll Is The First Step Towards Significant Employee Turnover

It can be easy to take something for granted until you no longer have it. When you started your company, you had no problems making payroll because you had your start-up cash and it was going to sustain you for months. The problem is that those months are up and now you are relying on your outstanding invoices to meet payroll and things are not moving a smoothly as they once were. At this early stage in your company's history, you are facing the very real possibility that you could start to delay, or even miss, payroll.

A company does not have to be a start-up to miss payroll. Any organization that is having cash flow issues is faced with the real possibility that payroll could be affected. One of the immediate consequences of missing payroll is employee turnover. You have a dream and a vision for your company, but your employees are there for the paychecks that they desperately need. For the employees living paycheck to paycheck, missing payroll is the red flag that causes them to seek employment elsewhere. The economic fallout of significant turnover to your organization can be catastrophic.

Employee Turnover Has A Negative Effect On Morale

Morale is supposed to be one of this important intangible things that you cannot put a price on. But when you start to see the results of bad morale, it becomes very easy to put a number on how much it is costing you. Missing payroll causes turnover, and that leaves the rest of your employees racking up unscheduled days off because they are either looking for new jobs or just cannot find the motivation to work for your company.

Unscheduled days off have measurable effects on productivity and your profit margin. A drop in morale also affects the productivity of the employees that do show up for work. In the end, you are going to have problems meeting customer deadlines and that will have a long-term effect on the profitability of your organization.

Missing Payroll Means Losing Experienced Employees

A payroll issue can cause experienced employees to leave your organization in droves. Not only do you have to deal with the real problem of replacing employees who knew their jobs well, but there will be a lag time between the moment you lost your employees and the time you are able to fill them in with replacements. But the replacements will take months to get up to speed, so the cycle really does not end with hiring qualified replacements.

You invest a lot of money in your experienced employees. There is thousands of dollars in training, the salary you have paid those employees and the productivity you rely on because those employees have years of experience. Missing payroll causes these employees to look for employment with the competition, which creates a double-edged sword with turnover. Not only is your company losing key employees that it needs to function, but it is losing those employees to the competition that has been trying to put you out of business for years.

Capital Credit Can Prevent Payroll Issues And Keep Employee Turnover Down

The reason that you are considering missing payroll is because you do not have the cash flow you need to make your payroll obligations. The most frustrating thing about it is that you have a pile of past due invoices on your desk that represent the cash you need to make payroll and keep employee morale high. Capital Credit is a factoring receivables company that can improve your cash flow and help you to make payroll.

A company that factors invoices is one that advances cash based on the legitimacy of each invoice and the credit status of your customers. As long as you have qualified invoices with creditworthy clients, then Capital Credit can create a customized invoice factoring program that will get your cash flow moving again. It is a process that Capital Credit has been using for years to help small to medium sized businesses all over the world.

Capital Credit Is A Fast And Efficient Invoice Factoring Company

It is important to remember that factoring invoices is not the same as taking out a bank loan. Capital Credit is not a bank and we will not burden your company with bank debt. We work with your invoiced sales to help you generate the cash you need to make payroll and prevent employee turnover. Our process is simple and our application is easy to complete and submit.

We have an online application that you can fill out and submit along with other information we need such as your current aging report and the list of invoices you want us to factor. We approve applications the same day we receive them and it only takes us five business days or less to set up your account. After you account is set up, we can advance you cash within 24 hours of receiving a qualified invoice. We are much quicker than a bank, and we offer you a business line of credit that will not put your company deeper into debt.

Capital Credit Is An Invoice Factoring Leader

Capital Credit has an international network of affiliates who are prepared to utilize billions of dollars in resources to advance cash in up to 17 different currencies. We have been doing this for a very long time and we have the financial experts who can help you to meet your payroll obligations and fend off turnover.

We have a wide variety of customers in industries such as trucking, IT support, product distribution, construction and staffing. You want to work with a company like Capital Credit that has experience in your industry because that kind of experience is vital in creating the invoice factoring program that you need to meet your obligations. We know what your company needs to improve cash flow, and we have the programs you are looking for.

Capital Credit Makes Invoice Factoring Easy

We are one of the premier companies that factors invoices because of how easy we make the entire process. When we set up your account, we disclose all of our fees to you. We never charge you any hidden fees, and we also do not charge any set-up or facility fees either. All we do is advance you the face value of your qualified invoices, minus our lending fee.

We never want to see your company credit score because we don't need your credit information to approve transactions. We need to verify your invoices and then check on the credit status of your clients. As long as your clients are creditworthy, then we can create the business line of credit you need to meet payroll and prevent turnover. Since we do not require your credit score to approve your invoices, we are able to help companies with good credit, bad credit and even start-ups with no credit at all.

Contact Capital Credit today and make sure that you never miss a payroll obligation. Your employees are your most important asset and you cannot afford the kind of massive turnover that missing payroll will cause. Capital Credit will use invoice factoring to improve your cash flow and prevent employee turnover.